Washington Mutual Reviews | Glassdoor

Washington Mutual Reviews

17 reviews

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Washington Mutual Chairman & CEO JP Morgan Chase James Dimon
James Dimon
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17 Employee Reviews

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Pros
  • It had great benefits and recognition program that made the employees feel valued (in 17 reviews)

  • Stimulating environment, good pay, and great benefits (in 13 reviews)

Cons
  • poor business practices that led to company being seized by the FDIC (in 9 reviews)

More Pros and Cons

  1. "Bad company to work for"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great people to work with

    Cons

    A Very poor managed company


  2. "too late. company no longer exists"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Internal Controls Analyst in Seattle, WA
    Current Employee - Senior Internal Controls Analyst in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    used to be the core values and culture, but now what's left is quickly being assimilated by Chase. The only thing left are the branches, which are now Chase

    Cons

    Bad management ran the company into the ground. Obviously a big downside is that it doesn't exist any more.

    Advice to Management

    Too late now. Thanks for all your hard work in ruining a once proud company.

  3. "WaMu on its Last Leg as JPMorgan Chase Takes Over... Good Riddance!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - First Vice President in San Francisco, CA
    Current Employee - First Vice President in San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Fair Compensation and Benefits, Reasonable Work/Life Balance, Challenging Business Problems to Solve and Lots of Opportunities for Improvement in Business Models and Processes

    Cons

    Even before the JPM takeover, senior management communication was poor, and the overall level of leadership from the VP-level up vs. other financial companies has been mediocre at best (particularly from former Providian managers). Lack of understanding and appreciation for work support groups provide by Marketing and other senior leaders.

    Advice to Management

    Learn from your mistakes... You poorly managed the company, its employees, and its reputation, and look what happened. Improve the quality and frequency of leadership communication to keep employees informed.


  4. Helpful (1)

    "Hold off until the dust settles"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Seattle, WA
    Current Employee - Anonymous Employee in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Work life balance was great before Chase acquisition - no idea what it will be like going forward

    Cons

    Current uncertainty surrounding recent acquisition by Chase

    Advice to Management

    Take your time in merging the two companies - really look and see where the talent is and who you should retain.


  5. "Sounds good on paper, but not a good place to work."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Corporate Communications in Seattle, WA
    Current Employee - Corporate Communications in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    It's a big company and had a lot of positions and departments to choose from.

    Cons

    Now it's been acquired by JPMorgan Chase.

    Advice to Management

    Listen to employees at the front lines and middle management. Fix problems before they become too big to deal with.


  6. Helpful (1)

    "Horrible place to work...don't even think about it if you are driven, intelligent, and hard working"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in San Francisco, CA
    Current Employee - Assistant Vice President in San Francisco, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    I really can't think of any good thing about working for WaMu! It really is a horrible place to work, most people are here simply for the paycheck. If you are seeking challenging employment, engaging and intelligent people, and ample career advancement opportunities, this isn't the company for you!

    Cons

    Everything about working at WaMu is a downside. The only thing I can think of is that it is a very stress free work environment, mostly due to the fact very few employees are motivated to perform. The company lacks incentives that draw top performers.

    Advice to Management

    I'd plead for Senior Management to stay at WaMu. This is a bit self serving as hopefully I won't have to work with these buffons at my next company.


  7. "Too much greed led WaMu to forget it should be a stoggie bank first."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Treasury Analyst in Seattle, WA
    Current Employee - Treasury Analyst in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    I haven't been laid off yet, but it is sure to come now that JP Morgan Chase has taken over.

    Cons

    They are dead and gone since the FDIC sold us down river.

    Advice to Management

    Remember that you are "bankers". Bankers should be stoggie and careful with their depositors money. A bank should not be in ALT "A" and other sub-prime loans.

  8. "Good job if you get a good manager and you're a man"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Test Specialist in Seattle, WA
    Current Employee - Test Specialist in Seattle, WA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Banker's hours, benefits, some good colleagues, project time lines allow for some planning

    Cons

    Terrible morale
    Terrible manager
    Blatant favoritism displayed by current manager
    Lack of respect for women by the technical department management staff

    Advice to Management

    Take advantage of profit-making opportunities but never again take the unreasonable risks Killinger approved.
    Encourage senior managers to talk to senior individual contributors regarding potential management improvements


  9. Helpful (1)

    "Slow painful downward spiral"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Product Support Manager in Seattle, WA
    Current Employee - Product Support Manager in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    WaMu offers a good work/life balance, which is the only saving grace for this company. Pay & benefits are reasonable. A select few of my team members are intelligent & competent and are actually pleasant and fun to work with. Otherwise, it's just a paycheck.

    Cons

    Senior and mid-level managers are indecisive and are constantly making impulsive and bad decisions. Nepotism reaks throughout the Retail division. There's absolutely no vision, no strategies, no dedication, no communication from the top down, no performance recognition, etc... Some managers tend to be too territorial and protective of their immediate staff that they are unable to realize the suffocating effects and has no shame in using intimidation tactics while projecting an unprofessional facade which has proven to be a detriment to the respect and credibility from peers and business partners. Team dynamics & morale is at it's all time low.

    Advice to Management

    Step down and bring in new blood, it's time for a serious change.


  10. "Company where the salaries are high and the intellect is low!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Systems Analyst in Seattle, WA
    Current Employee - Senior Business Systems Analyst in Seattle, WA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It's not very intellectually challenging. It would be a great place to work for someone focusing on going to school at night while needed an easy income during the day.

    Cons

    The work is not very challenging in the IT division. I've been in IT for over 15 years, and my assessment is WaMu is behind in leveraging technology about 6 to 8 years. I've been in meetings with so-called technical people and when I mentioned data normalization, nobody in the meeting knew what that was. In the time I've been there, they have struggled with defining what is the Business Systems Analyst role. I believe they've given up!

    Advice to Management

    Quit trying to earn your bonuses and work to really help this company.


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